US Subrime Mortgage Crisis - What went wrong?
Banks lent money to people at intrest rates and payment schedule
Banks lent money to people at intrest rates and payment schedules knowing they wouldn't be able to afford it. They were interested in earning money off of the intrest to be paid for a few years knowing the houses and cars would be reposessed. They lent out to way too many people in that situation. It's not only the banks fault, it's the fault of the people too for having eyes too big for their stomachs.
I am very glad I did not get the home that we were looking at. I
I am very glad I did not get the home that we were looking at. I told my husband we would need to wait another 5 years. I will have graduated school and have had a job for 2 years and he would have been with his job for 6 years.
I want to be able to make a 30k down payment and pay off within 15 years. I don't want a 30 year home loan.